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Zoom Video Falls Despite Q4 Earnings Beat, Strong Guidance

Zoom Video Communications (NASDAQ: ZM) shares are trading lower after the company reported fourth-quarter earnings results.

Benzinga · 03/04/2020 21:37

Zoom Video Communications (NASDAQ: ZM) shares are trading lower after the company reported fourth-quarter earnings results.

The company reported adjusted fourth-quarter earnings of 15 cents per share, which beat the analyst consensus estimate of 7 cents. The company reported quarterly sales of $188.3 million, which beat the analyst consensus estimate of $176.54 million by 6.66%.

Zoom Video reported 81,900 customers with more than 10 employees for the quarter, up 61% year-over-year.

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The company sees first-quarter adjusted EPS of 10 cents versus the 6-cent estimate, and sales of $199-$201 million versus the $185.7 million estimate.

The company sees fiscal year 2021 adjusted EPS of 42-45 cents versus the 30-cent estimate, and sales of $905-$915 million versus the $868.37 million estimate.

Zoom Video shares were trading down 6% at $109.82 in Wednesday's after-hours session. The stock has a 52-week high of $121.93 and a 52-week low of $59.94.